EBS lays off technology staff in strategic shift

TECHNOLOGY NEWS

LONDON -- EBS, the spot interbank FX electronic broker, last week told FX Week it has laid off around 50 staff.

The redundancies represent around 20% of the firm's global workforce, said a spokesperson at EBS in London. The bulk of the cuts are from the firm's development centre in New Jersey.

Some cuts have also been made from the firm's global sales force, which lost seven staff. This was due to a reorganisation that has seen the EBS Spot, Trader, FXNET and new business sales groups integra